Message: Return type of CI_Session_files_driver::open($save_path, $name) should either be compatible with SessionHandlerInterface::open(string $path, string $name): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::close() should either be compatible with SessionHandlerInterface::close(): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::read($session_id) should either be compatible with SessionHandlerInterface::read(string $id): string|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::write($session_id, $session_data) should either be compatible with SessionHandlerInterface::write(string $id, string $data): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::destroy($session_id) should either be compatible with SessionHandlerInterface::destroy(string $id): bool, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Message: Return type of CI_Session_files_driver::gc($maxlifetime) should either be compatible with SessionHandlerInterface::gc(int $max_lifetime): int|false, or the #[\ReturnTypeWillChange] attribute should be used to temporarily suppress the notice
Arbitration reference is not maintainable if it is filed after admission of Insolvency Resolution Petition under Section 7 of IBC
05 Jun 2021 01:18 pm
26th March 2021
Justices SA Bobde, AS Bopanna and V. Ramasubramanian
Section 8 of the Arbitration and Conciliation Act, 1996, Section 7 of the Insolvency and Bankruptcy Code
“In a situation where the petition under section 7 of IB Code is yet to be admitted and, in such proceedings, if an application under section 8 of the Act, 1996 is filed, the Adjudicating Authority is duty bound to first decide the application with regard to there being default or not, even if the application under section 8 of Act, 1996 is kept along for consideration made therein on Section 7 of IB Code application would befall on the application under section 8 of the Act, 1996”. While referring to IBC provisions, the Hon’ble Court has further observed that:
“The reference to the triggering of a petition under section 7 of the IB Code to consider the same as a proceedings in rem, it is necessary that the Adjudicating Authority ought to have applied its mind, recorded a finding of default and admitted the petition. On admission, third party right is created in all the creditors of the corporate debtors and will have erga omnes effect. The mere filing of the petition and its pendency before admission, therefore, cannot be construed as the triggering of a proceeding in rem. Hence, the admission of the petition for consideration of the Corporate Insolvency Resolution Process is the relevant stage which would decide the status and the nature of the pendency of the proceedings and the mere filing cannot be taken as the triggering of the insolvency process.
Indus Biotech Private Limited vs. Kotak India Venture (Offshore) Fund
